Underground storage tanks

Article Abstract:

The probable effects on real estate values of underground storage tanks (UST) usage have caught the attention of real estate developers. Real estate owners may incur huge losses due to environmental contaminants, thus, they must regularly check their UST. UST without corrosion protection on monitoring gauges should be checked monthly and tank tightness testing should be done yearly. Meanwhile, UST monitoring expenses are considered current period expenses while replacement costs are capital expenses except when the property is to be sold wherein it would be charged as a capital expense.

Methods, Analysis, Environmental protection, Storage tanks, Underground storage

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Environmental risk evaluations

Article Abstract:

Environmental Risk Evaluations (ERE) are rapidly becoming standard procedures in the assessment of property. The evaluations are made in four phases. The EREs are necessary for the procedures of acquisition and disposal to determine liability for clean-up of hazardous waste as determined by federal statute. Phase 1 evaluation involves examinations of all necessary documents. Phase 2 evaluation involves sampling of a contaminated area. Phase 3 is the determination of waste removal methods and Phase 4 involves the removal of the waste proper.

Subdividers and developers, not elsewhere classified, Real estate agents and managers, Laws, regulations and rules, Real estate industry, Liability for environmental damages, Hazardous wastes

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Evaluating environmental risk for real estate

Article Abstract:

The identified and unidentified effect of environmental hazard may be significant on real estate valuation. An actual or potential presence of an environmental hazard expands the complication of the valuation process by all interested parties. It has been determined that aggregate loss extends beyond 10% of total US real estate valuation. Residential and commercial properties are vulnerable to environmental hazards although these hazards have been usually associated with industrial properties only.

Real estate, Real property

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